LG.Philips LCD Co., Ltd. Form 6-K Summary
Business Context and Reporting Period
This Form 6-K was filed by LG.Philips LCD Co., Ltd. (a foreign private issuer) for the month of April 2005, specifically dated April 7, 2005. The filing reports on a corporate governance event: the grant of stock options by the Board of Directors.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on the terms of a stock option grant rather than financial performance results.
Material Changes
The material event reported is the Board of Directors' resolution to grant stock options to 9 key executives. A total of 450,000 common shares were granted under a plan with a total limit of 3,253,157 shares (1% of total issued shares). No prior shares were granted under this specific resolution.
Guidance, Outlook, and Terms of Grant
- Grant Date: April 7, 2005.
- Exercise Period: April 8, 2008, to April 7, 2012.
- Exercise Price: KRW 44,260 per share.
- Payment Method: Cash settlement for the difference between the market price and exercise price if the market price is higher.
- Performance Condition: Only 50% of the initially granted shares can be exercised if the share price increase is less than or equal to the increase in the KOSPI (Korea Composite Stock Price Index) over the three years following the grant date.
- Compliance: The exercise price complies with the Enforcement Decree of the Korean Securities and Exchange Act.
Important Facts for Investor Verification
- Verify the total number of shares outstanding to confirm the 1% grant limit calculation (325,315,700 shares).
- Confirm the specific performance metrics tied to the KOSPI index for the 50% vesting condition.
- Review the individual allocation of the 450,000 shares among the 9 grantees, noting that the President and CFO received the largest portion (100,000 shares).
- Check subsequent filings for the actual exercise of these options during the 2008-2012 window.